A total of 67% of respondents polled by SBF said they are planning an average pay rise of 6%. Read more at straitstimes.com.
SINGAPORE – Most employers here look set to offer staff pay rises in the year ahead, despite a lack of optimism about economic prospects, according to the results of a business survey out on Tuesday.
Among small and medium-sized enterprises surveyed, 73 per cent raised wages in the last 12 months, and 62 per cent expect to do the same in the next 12 months. These are some of the findings of the Singapore Business Federation’s Survey on Manpower and Wages, which was conducted from July 20 to July 31 this year. It surveyed 282 businesses, comprising SMEs as well as large companies, across all major industries.
“So, the projected wage growth does seem to be ahead of inflation – which is moderating – but it may in a sense just be catching up, given that real wages hardly increased last year,” said Prof Theseira. Of the respondents, 85 per cent said they expect costs to go up. The most common expectation among SMEs – selected by 42 per cent of them – was an increase of between 10 per cent and 25 per cent, while 45 per cent of large companies expected costs to rise by up to 10 per cent.
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